The 47 Morning Update with Ben Ferguson

Inflation Crashes to 2.7%—Trump’s Playbook Schools the 'Experts'

Date: January 2, 2026 | Host: Ben Ferguson (Premiere Networks)

Episode Overview

In this episode, Ben Ferguson breaks down the sharp drop in U.S. inflation to 2.7%, crediting former President Donald Trump's policies for this unexpected economic turnaround. Ferguson sharply contrasts the media and Democratic predictions during the Biden administration with the current economic data, arguing that Trump’s approach has not only stabilized the economy but actively refuted critics. The episode focuses on the specific policy actions behind the decline, what it means for American families, and delivers pointed commentary on media narratives and economic “experts.”

Key Discussion Points & Insights

1. Main Story: Inflation Plummets to 2.7%

• [03:40] Story Introduction: Ferguson opens by highlighting that the reported inflation rate of 2.7% is a major positive surprise, defying the gloomy projections of Democrats and the mainstream media during Biden’s presidency.
• Ferguson frames the drop as a "clear rebuke" to economic pessimism:

  "A sharp and honestly, a unexpected tumble...is more than just positive data point. It's a clear rebuke of the economic pessimism pushed by critics of President Donald Trump." — [04:12]

• Ferguson describes the economic turnaround as "validation of Trump policies," especially against predictions that tariffs, energy expansion, and deregulation would create inflation, not reduce it.

2. Energy Policy & Its Effects

• [05:31] Discussion of Energy Prices: Ben credits Trump's energy dominance for the inflation reduction, noting the rollback of federal barriers to oil and gas production and a return to American energy independence.
  • This, he asserts, stabilized markets and lowered costs across the board—transportation, manufacturing, and groceries.
  • Notable Quote:

    "Energy and the price touches everything. Trump understood that from day one. And inflation numbers are now proving him to be exactly right." — [06:14]

3. Tariffs and Trade Policy

• Targeted Tariffs: Ferguson rebuts the widespread criticism that tariffs would raise prices and shatter supply chains.
  • Claims foreign producers absorbed costs, not American consumers; no empty shelves, no supply chain collapses.
  • Quote:

    "The tariffs pressured foreign producers to actually absorb the costs that did not get passed on to Americans the way that the left tried to claim. Supply chains adjusted instead of breaking." — [06:48]

  • Argues that tariff policy led to a rapid expansion of American manufacturing and reduced reliance on foreign imports:

    "American manufacturing expanded rapidly, reducing the reliance on volatile foreign inputs...part of us having security and safety literally on a national security forefront." — [07:16]

4. Deregulation’s Role

• Ferguson outlines how eliminating federal regulations and reducing compliance costs helped businesses operate more efficiently, keeping prices lower and speeding products to market.
  • Quote:

    "Deregulation reduced hidden inflation and Americans have never been able to see the receipts before until Trump got into office." — [07:56]

5. Market Confidence and Psychological Impact

• Discusses how Trump's transparency and leadership restored confidence, which in itself can stabilize markets and lower inflation expectations.
  • Quote:

    "Inflation is also psychological. When consumers and businesses believe prices will rise, they behave in ways that make it happen. Well, Trump's leadership clearly restored economic confidence." — [08:46]

6. Return to Fiscal Discipline

• Trump’s approach includes fighting government waste and signaling restraint, reassuring investors and further reducing inflation expectations.
  • Quote:

    "A renewed emphasis on fiscal restraint of our government and doge was a large part of that. Again made people feel more confident in their government." — [09:30]

7. Summary: The Real-World Impact

• Ferguson concludes that the inflation decline is a tangible win for all Americans, especially lower and middle-class families.
  • Quotes:

    "The drop in inflation, 2.7%, didn't happen by accident. And it didn't happen despite Donald Trump's policies. It happened because of Donald Trump's policies." — [10:18]
    "So this inflation report isn't just good news. It's proof that Trump's economic playbook works. And even under intense political and global pressure, thank goodness we have a president that's willing to stay the course and not chase an approval rating number." — [11:17]

Notable Quotes & Memorable Moments

• On the media and Democrats:

  "Could it be that the media and the Democrats got it wrong yet again on the economy? The same people that try to convince you that there was no such thing as Bidenflation...now there's more data to show they're just a bunch of liars." — [03:41–04:05]

• On expert predictions:

  "The so-called experts yet again predicted disaster. The data delivered a reality check to them." — [11:00]

• On Trump’s trade and regulatory strategy:

  "Trump's tariffs weren't random. They were targeted leverage forcing fairness and restoring balance. Inflation falling to 2.7% shows that smart trade and enforcement doesn't punish the consumers, it actually protects them." — [07:38]

Important Timestamps

• [03:40] — Main story begins: media, Democrats, and economic predictions refuted
• [05:31] — Impact of energy policy detailed
• [06:48] — Defense and impact of tariffs tackled
• [07:56] — Deregulation and reduction of ‘hidden inflation’
• [08:46] — Psychological and confidence effects on inflation
• [09:30] — Fiscal discipline, government spending, and investor confidence
• [10:18] — Recap of key takeaways and the real-world win for Americans
• [11:17] — Ferguson's summary: Trump's consistency and refusal to "chase approval rating"

Tone and Style

Ferguson’s commentary is direct, assertive, and combative toward mainstream media and Democratic critics. He uses straightforward language, vivid examples, and rhetorical questions to connect with listeners. His tone is designed to energize a conservative audience, reinforce skepticism of critics, and affirm confidence in Trump’s economic leadership.

For more news and ongoing commentary, Ben urges listeners to subscribe and promises further updates as the administration moves forward.